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Electric car company Lucid files for $8 billion in financing: supply chain issues have impacted production

  • joy
  • 2022-08-30 14:09:38
  • 342 read
  according to reports, electric car company Lucid applied to raise up to 8 billion US dollars in funding. It ...

  according to reports, electric car company Lucid applied to raise up to 8 billion US dollars in funding. It is reported that the company's supply chain problems at this time have affected production, and Lucid hopes to further enrich its working capital.

  Lucid, currently valued at about $27 billion, halved its production target earlier this month, largely due to supply chain and logistics challenges. Component shortages and soaring raw material prices have affected EV startups, which are struggling to control costs and burn like crazy to get cars to market.

  To raise funds, Lucid will issue a variety of securities, the size, price, and terms of which will be determined at the time of the offering.

  Lucid CEO Peter Rawlinson said last year that the company has raised $4.4 billion and won't run out of cash until the end of 2022, but the company won't wait until then to raise money.


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